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AFRICOAST ENERGY LAUNCHED
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AFRICOAST ENERGY LAUNCHED

FOLLOWING significant growth in the renewable energy business, 
AfriCoast Engineers SA has developed a sister company to exapnd
its vision.
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SA’s energy transition must deliver affordable power, community growth – Ramaphosa

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President Cyril Ramaphosa has emphasised that South Africa’s shift to clean energy must be an inclusive process that strengthens local communities and lowers the cost of electricity for everyday citizens. Writing in his weekly newsletter on Monday, Ramaphosa stated that it is the collective responsibility of government, business, labour, and civil society to ensure the energy transition delivers equitable benefits.

Petrol prices to decrease by 52c a litre, but diesel prices to increase by up to R1.38 a litre

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The Department of Mineral and Petroleum Resources has revealed that the price of Petrol 93 and Petrol 95 will decrease by 52c a litre from Wednesday, but the prices of diesel will increase by R1.23 and R1.38 a litre for diesel with a 0.005% and 0.05% sulphur content, respectively. The department notes that these changes are based on various factors, including a decrease in the average Brent crude oil price, from $86.53/bbl to $82.37/bbl, for the period under review.

Absa PMI declines in July, but domestic demand and new sales orders improve

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Financial services firm Absa’s Purchasing Managers’ Index (PMI) declined to 46.8 in July, from 47.3 points in the prior month. While this reading suggests a weak start to the third quarter, the headline decline arguably overstates the weakness in underlying manufacturing conditions, as domestic demand improved and lifted new sales orders, Absa comments.

Independent TSO must now be implemented after Presidential endorsement – Mavuso

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The endorsement of the first report of the Eskom Restructuring Task Team by President Cyril Ramaphosa provided a clear vision for the independent Transmission System Operator (TSO) and made the policy unambiguous, says business organisation Business Leadership South Africa (BLSA) CEO Busisiwe Mavuso. An independent grid operator is the only way to build a competitive electricity market that treats all electricity generators equally, brings prices down over time and gives investors the certainty they need to commit capital, she says.
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